Question :
Has anyone approached their bank yet about the govt backed SME lending options

Question submitted 27/03/20 @ 06:58pm
Industry: COVID-19 Funding & Support
  • Hey Andrew – we have had discussions to see what the terms would be, and now know the process which seems ‘ok’ but not as easy as the wage subsidy. One of the businesses I work with banks with the ANZ and they are putting their package together for up to a $500k loan, and the bank have been super helpful – they are putting their application in this week. Ping me on ra.hamilton.nz@gmail.com and I can talk offline if you like – I am going to also get Harry F who used to run SME at BNZ to jump into this question.

    Thank you, Andy,

    Good Morning Andrew,

    Given the business finance support schemes are still very new for all the banks – they are currently working out what their internal processes will be in terms of how this will be executed by their frontline business bankers.

    Each bank is at a different stage re-interpretation and execution.

    My team are currently helping some business owners navigate the banks – (given all the banks have their business bankers in lock-down), it helps if you have several direct lines of communication.

    Drop me an email on harry@vegalend.co.nz and I can connect you to one of the team that could make the process more streamlined for you.



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